Axxcess Wealth Management LLC Lowers Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Axxcess Wealth Management LLC decreased its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,117 shares of the biotechnology company’s stock after selling 2,613 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Veracyte were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares during the period. US Bancorp DE grew its holdings in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares during the period. Principal Securities Inc. grew its holdings in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the period. KBC Group NV grew its holdings in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Veracyte during the 4th quarter worth about $91,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VCYT. UBS Group boosted their target price on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Craig Hallum began coverage on Veracyte in a report on Thursday. They issued a “buy” rating and a $45.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 price target (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.22.

Veracyte Stock Down 0.1 %

NASDAQ:VCYT opened at $31.82 on Friday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -212.13 and a beta of 1.80. The stock has a fifty day simple moving average of $38.53 and a 200 day simple moving average of $37.66.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same period last year, the company posted ($0.39) EPS. Equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. The trade was a 35.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Veracyte Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.